Spotify's Daniel Ek pitches his vision for the future

Written by frtyfve Team

MBW have reported that Spotify are set to announce Tuesday 3rd April as the date that its shares will be publicly listed.

Spotify’s CEO and Chairman, Daniel Ek, pitched Spotify’s vision to current and potential investors in New York and said, "the opportunity in front of us is even bigger than we thought when we started off".

“The company’s Head of Investor Relations, Paul Vogel, has confirmed that Spotify will publicly list shares on the NYSE via a usual ‘direct listing’ on Tuesday, April 3”, the report states.

Based on the expected share price, the move could value the firm at more than $23bn (£16.7bn).

Spotify have also announced that they closed 2017 with 159m monthly active users and 71m premium (subscription fee paying) subscribers, making it the global streaming leader. The document also shows that Spotify have paid $8bn out to artists and rights holders since its 2008 launch.

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